Trade Risk and American Rare Earths Update

Global markets traded with risk-off undertones as trade tensions intensified after a threat of 100% tariffs on Canada if it signs a deal with China. Safe-haven flows lifted gold and silver to fresh highs, while new tariff talk raised concerns about commodity price knock‑ons, including European wine. Banks are forecast to see expanding margins and earnings, and early-year equity data showed resilience despite tests. Bitcoin lagged precious metals as the BTGO IPO refocused Wall Street attention on crypto exposure. American Rare Earths (ASX:ARR | OTCQB:ARRNF | ADR:AMRRY) climbed 6.11% to $0.313 at the close on Jan. 23, 2026, after a series of operational and corporate updates. The company secured a research award with the University of Wyoming to study tailings and byproduct end‑uses at Halleck Creek, reported production of mixed rare‑earth oxide under an updated PFS flowsheet, and highlighted TREO improvements at its Cowboy State Mine resource. Management named Mark Wall CEO effective Jan. 5, 2026, monetized a non‑core holding to accelerate project work, and deepened its partnership with Tetra Tech to pursue U.S. funding pathways. Together, these developments aim to de‑risk metallurgy and advance project financing options as demand for domestic rare‑earth supply chains intensifies. Investors will watch further metallurgy results, funding progress and trade policy for implications to prices and project economics.